There are many reasons why an individual would want to purchase a life insurance policy to protect his or her loved ones in the event of their untimely death. One of the most common – and most important – reasons is so that those loved ones can keep the family home even in the absence of their main breadwinner. Life insurance companies have designed a product to make this goal easier, and this product is known as mortgage life insurance. Mortgage life insurance is specifically designed to pay off the mortgage in the event of the policyholder’s death, and many people enjoy the peace of mind of this special type of coverage.

Life insurance is an important purchase, and it is important to know the rules governing the various policies on the market. One of the most important rules in the world of life insurance revolves around verification of good health, and many insurance companies require some sort of medical exam before agreeing to extend coverage. This requirement can cause some problems for those with preexisting medical conditions and other health issues, and can even cause some to forgo needed coverage. No exam life insurance provides those individuals with a viable option, and it is a good idea for those with health concerns to check these policies out. . As the name implies, there is no health exam required for coverage, providing much needed peace of mind even for those with present or past health challenges.

This is another question to which there is no one right answer. The key to choosing the optimum life insurance coverage is to look at your own individual circumstances, including the living expenses of your family, your current and projected future income, monthly cash flow and of course your budget. Shopping around can help you to get the most for your money, so be sure to compare insurance offers carefully. While there is no hard and fast rule, a good rule of thumb is to purchase a policy equal to 20 to 25 times your annual salary. This amount of coverage gives your survivors a good shot at living off the earnings of the death benefit without having to invade the principal to pay their living expenses.

There are many ways to save money on life insurance premiums, but one of the most effective is simply to shop around. Shopping around can save you a great deal of money, and it is important to compare coverage offers carefully. Simple things like staying in good health, exercising and eating right can also reduce life insurance premiums. Many lie insurance companies will require a medical exam, and would be policyholders should be prepared for this important health assessment. Quitting smoking can also have a serious impact on premiums – smokers can even use the savings as an incentive to finally kick the habit.